Philips Q4 comparable sales fell 10%
By Kyle Morris
Royal Philips NV said on Monday that sales and net profit in the final quarter of the year fell as it continued to face supply chain and Covid-19 challenges.
The Dutch health-tech company said group sales for the fourth quarter of 2021 were 4.9 billion euros ($5.56 billion) from 6.00 billion euros a year earlier.
Net profit amounted to 157 million euros against 603 million euros for the same period of the previous year.
The group’s fourth-quarter adjusted profit before interest, tax and amortization – one of the company’s preferred measures, which excludes exceptional and other one-off items – came to 647 million euros from 995 million euros. euros in 2020.
Full-year 2021 revenue was €17.2 billion and 2021 Adjusted Ebita was €2.05 billion
For 2022, Philips expects growth and margin expansion, despite short-term volatility and headwinds from Covid-19 and supply chain challenges. He expects to start the year with a comparable sales decline, followed by a recovery and a strong second half. For the full year, he is aiming for comparable sales growth of 3 to 5%.
Philips declared a dividend of EUR 0.85, stable over the year.
Email Kyle Morris at kyle.morris@dowjones.com